The Impact of the Global Crisis on Montenegro and the Western Balkans - Softcover

Franjo Stiblar

Softcover

ISBN 10: 8685815096 ISBN 13: 9788685815096

Publisher: Central Bank of Montenegro, 2009

Synopsis

In a very systematic and comprehensive manner, this book explains the reasons behind the global financial crisis, examines the institutional and regulatory weaknesses that aided to it, as well as offers a solution for the crisis through presenting a new vision of macro economy. The book clearly shows that the crisis did not occur 'overnight'; instead, it is a consequence of an accumulation of problems and misguided economic policies over a longer period of time. Special attention is dedicated to the psychological element, a significant factor in both creation and spread of negative expectations, which has been often neglected in the earlier economic literature. However, the author did not restrict himself to examining the causes and the results of the crisis he has also provided clear recommendations on what needs to be done from the aspect of the general rules of economic policy management. this includes suggestions not only how to stimulate economic activity, but also what action is needed in the fields of social policy, health and pension reform so as to mitigate the consequences of the crisis, and thus overcome it more quickly. In addition to that, a systematical overview of measures used by some countries in 'combating' the crisis is included in the book, including suggestions as to what can function well under the current conditions, and what cannot. Also, the book examines the proposals of eminent professionals on what needs to be done and the author raises the interesting dilemma of 'privatization' versus 'nationalization'. A special quality of this book is the fact that it also tackles the effects of the global financial crisis on the Western Balkan countries and Montenegro. It is the first book which analyzes the possible consequences of the global financial crisis for the region and clearly indicates the influence of external factors and internal unbalances and problems that helped to spread it.

About this title

About the Author

Dr. Franjo Stiblar graduated both from the School of Law and from the School of Economics at the University of Ljubljana, Slovenia, obtained master degree from the Institute of Economic Sciences in Belgrade and Ph. D. in Economics at the University of Pennsylvania, Philadelphia, USA, under Nobel price winner L. R. Klein. He is a professor at the School of Law, University of Ljubljana and its former Dean, professor of graduated studies at the University of Bologna (Italy), scientific advisor at the Economic Institute of the School of Law in Ljubljana, member of the international project LINK under University of Toronto and UN, international public scholar at the Woodrow Wilson Center in Washington DC, member of working groups for financial system at the CEPS institute in Brussels and member of the Council in Central Bank of Montenegro. He published several books Ekonomija (2002, with A. Bajt), Statistika (2002, with A. Bajt), The Balkan Conflict and Its Solutions (2007), Zavarovalnistvo Slovenije v 21. stoletju (2008, with F. Sramel), Svetovna kriza in Slovenci (2008) and many scientific articles in different journals at home and abroad. Macroeconomics and Balkan have been among his research interests for decades.

Edition details

• Publisher: Central Bank of Montenegro
• Publication date: 2009
• ISBN 10: 8685815096
• ISBN 13: 9788685815096
• Binding: Paperback
• Language: English
• Number of pages: 307